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0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

0x.org

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Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#51

Post by v64 »

ForHackernews wrote: post #45
leoplct wrote: post #17

Why should I launch an exchange when there are already hundreds of existing exchange? As a entrepreneur: Exchange services is very difficult to differentiate. It’s a commodity service. Why should I invest in marketing to promote my new exchange? As a customer: Why should I buy tokens? - Most of existing tokens have not active project behind - Many times the token is useless for the project and it will not increase in…

> Why should I launch an exchange when there are already hundreds of existing exchange? Because loads of people will send you their money and tokens, you can keep them, and shut down your exchange. It's free money for bold entrepreneurs unburdened by legacy financial systems or consciences.

The advantage of a project like 0x is that it's non-custodial, so this type of exit scam isn't possible.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#52

Post by joshfraser »

jldevops wrote: post #22
detritus wrote: post #7

I'd perhaps add something like 'crypto' to the headline - I thought this was a marketplace for physical items, somehow - like a local goods exchange.

Agreed, just a small change, otherwise awesome to see something like this out there. Just curious, does anyone know of a kit like this for digital marketplaces for goods or services (not crypto)?

Yes! At Origin we built a Marketplace creator that allows you to create a decentralized marketplace for buying and selling anything in a matter of minutes.

https:/www.originprotocol.com/creator

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#53

Post by village-idiot »

woah wrote: post #44
jandrese wrote: post #23

Earlier quoted context omitted.

Hardly a week goes by without one folding due to hacking, mismanagement, or outright criminal activity. Seems like they need someone to keep up the churn or they might run low.

You can’t steal the tokens if you are running a 0x exchange.

Willing to bet your savings on it? I'm not.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#54

Post by nostrademons »

mgraczyk wrote: post #38

When 0x was conceived, there were far fewer crytocurrency exchanges than there are today. It aimed to solve a real problem that still exists in some ways. Since 0x is a blockchain project, it has moved at a snail's pace compared to the multitude of centralized and web-based "decentralized" exchanges that have sprung up since. These newer exchanges have largely solved the needs identified by 0x.

There's still a big problem with many of the centralized exchanges that have sprung up: a bunch of them are exit-scamming, or otherwise have had incidents that make your funds inaccessible.

That's the reason to do this on the blockchain: you don't need to trust that the exchange operators will keep your funds safe, because they don't have your funds.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#55

Post by Animats »

leoplct wrote: post #17

Why should I launch an exchange when there are already hundreds of existing exchange? As a entrepreneur: Exchange services is very difficult to differentiate. It’s a commodity service. Why should I invest in marketing to promote my new exchange? As a customer: Why should I buy tokens? - Most of existing tokens have not active project behind - Many times the token is useless for the project and it will not increase in…

Why should I launch an exchange when there are already hundreds of existing exchange?

Because you can steal the assets, like about half of Bitcoin exchanges to date.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#56

Post by nostrademons »

hanniabu wrote: post #46
kissickas wrote: post #43

Earlier quoted context omitted.

IDEX has been the #1 DAPP on Ethereum since March 2018[0]. It's also the #1 DAPP by users and transaction count. You can't buy crypto with fiat there, though, so connecting your orthodox bank accounts is irrelevant in this case. The founder said yesterday in an interview [1] that they may work with partners to enable this eventually, but so far I don't know any good decentralized exchanges that offer that. Buying cry…

IDEX isn't a decentralize exchange

IDEX is semi-decentralized: order-matching is handled off-chain, funds must be deposited into a centralized smart contract that handles all settlement, but the smart-contract itself and balances within it are held on the Ethereum blockchain. It prevents some forms of exit-scam or hack (you don't need to trust that the IDEX principals won't send your funds to a bank in the Bahamas), but retains vulnerability to a bug in the IDEX smart contract allowing a hacker to obtain them. The IDEX smart contract is at least public and auditable, though.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#57

Post by Legogris »

tomhschmidt wrote: post #36
dmos62 wrote: post #19

Earlier quoted context omitted.

Hi Tom! After reading the Why page, I still don't have a concrete notion of what this is. So I'll jab a few questions that might help me make some sense: First question is about decentralization. What is off-chain relay in this case? Is that a centralized part of the system? Are there centralized parts of the system? Can this be used to implement more robust margin trading? To my knowledge, only centralized exchanges…

Great questions! First question is about decentralization. What is off-chain relay in this case? Is that a centralized part of the system? Are there centralized parts of the system? Off-chain relay is how parties find each other facilitate a trade. As a maker, I can create an order off-chain, but I still need to find a relevant taker who is interested in filling the order by sending it to the 0x smart contracts on-ch…

To expand on this - a middle ground between the centralized exchanges dominating today and the (relatively) slow and expensive ones on the Ethereum mainnet would be a sidechain using a different physical topology and consensus model.

Some examples that have been gaining buzz recently (these are just examples, there are alternatives to each) if you want to read up and grok the statr of implementation and thoughts today: Plasma chains, PoA Networks xDAI, SKALE, PegaSys.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#58

Post by deadmetheny »

leoplct wrote: post #17

Why should I launch an exchange when there are already hundreds of existing exchange? As a entrepreneur: Exchange services is very difficult to differentiate. It’s a commodity service. Why should I invest in marketing to promote my new exchange? As a customer: Why should I buy tokens? - Most of existing tokens have not active project behind - Many times the token is useless for the project and it will not increase in…

How else would you make money while Shitcoins as a Service are still hot?

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#59

Post by nostrademons »

Animats wrote: post #55
leoplct wrote: post #17

Why should I launch an exchange when there are already hundreds of existing exchange? As a entrepreneur: Exchange services is very difficult to differentiate. It’s a commodity service. Why should I invest in marketing to promote my new exchange? As a customer: Why should I buy tokens? - Most of existing tokens have not active project behind - Many times the token is useless for the project and it will not increase in…

Why should I launch an exchange when there are already hundreds of existing exchange? Because you can steal the assets, like about half of Bitcoin exchanges to date.

You can't with 0x, at least not in the way you could at say Bitfinex or Binance. All of the assets remain in your personal Ethereum wallet until a trade is matched up.

That's the genius of the 0x protocol. The Relayers that LaunchKit lets you create are effectively just order books or other matching-engines that exist as a website or other service. They expose completed trades to the 0x smart contract, which atomically swaps the tokens of the trade. (Official 0x people can correct me here, I've done just a bit of research.) At no point does any organization other than you actually have control of your funds, nor can they receive them without giving you equivalent funds under the terms of the trade.

I've said before that the real use-cases for blockchains will be in doing stuff that nobody in their right mind would want to do because it's currently foolhardy. This is a good example. Giving money to a fly-by-night exchange is foolhardy - unless you don't have to give money to them. And that's what 0x enables: tradable assets without trust.

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